Attach to Form 990 or 990-EZ.
Go to www.irs.gov/Form990 for the latest information.
| Return Reference | Explanation |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 3 | SOY AQUACULTURE ALLIANCE HAS A MANAGEMENT AGREEMENT WITH INDIANA SOYBEAN ALLIANCE, AN UNRELATED 501(C)(6) ORGANIZATION, TO MANAGE THE DAY-TO-DAY ACTIVITY OF SOY AQUACULTURE ALLIANCE. THE EXECUTIVE DIRECTOR OF SOY AQUACULTURE ALLIANCE IS A W-2 EMPLOYEE OF INDIANA SOYBEAN ALLIANCE. ALL MANAGEMENT DECISIONS ARE SUBJECT TO APPROVAL BY THE BOARD OF SOY AQUACULTURE ALLIANCE THERE ARE (2 OUT OF 16 TOTAL FOR SAA) SHARED BOARD MEMBERS BETWEEN THE TWO ORGANIZATIONS. |
| FORM 990, PART VI, SECTION A, LINE 6 | THE CORPORATION HAS THREE CLASSES OF MEMBERS CONSISTING OF CLASS A MEMBERS, CLASS B MEMBERS AND CLASS C MEMBERS. EACH CLASS A MEMBER IN GOOD STANDING SHALL BE ENTITLED TO ONE (1) VOTE, EXERCISABLE IN PERSON OR BY PROXY, ON EACH MATTER SUBMITTED BY THE BOARD OF DIRECTORS TO THE MEMBERSHIP FOR A VOTE OF THE MEMBERS CLASS B AND CLASS C MEMBERS SHALL NOT HAVE VOTING RIGHTS |
| FORM 990, PART VI, SECTION A, LINE 7A | VOTING DIRECTORS SHALL BE APPOINTED TO THE BOARD OF DIRECTORS BY CLASS A MEMBERS TIER 1. CLASS A MEMBERS MAY APPOINT TWO DIRECTORS TIER 2. CLASS A MEMBERS MAY APPOINT ONE DIRECTOR. |
| FORM 990, PART VI, SECTION A, LINE 7B | THE BOARD OF DIRECTORS SHALL HIRE AN EXECUTIVE DIRECTOR FOR THE CORPORATION. UNDER SUCH TERMS AND CONDITIONS AS IT DEEMS PRUDENT, THE EXECUTIVE DIRECTOR SHALL MANAGE THE DAY-TO- DAY AFFAIRS OF THE CORPORATION AND PERFORM SUCH DUTIES AS CUSTOMARILY ATTEND THIS OFFICE OR ARE ASSIGNED BY THE BOARD. THE EXECUTIVE DIRECTOR SHALL BE RESPONSIBLE TO THE ENTIRE BOARD BUT SHALL REPORT DIRECTLY TO THE CHAIR. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE 990 WILL BE PREPARED ANNUALLY BY EXTERNAL AUDIT FIRM RELYING ON MANAGEMENT DATA TO COMPLETE THE FILING. THE RETURN WILL BE REVIEWED BY THE EXECUTIVE DIRECTOR AND THE BUDGET AND FINANCE COMMITTEE AFTER APPROVAL FROM THESE SOURCES. THE FULL 990 WILL BE PRESENTED TO THE BOARD FOR APPROVAL PRIOR TO FILING. |
| FORM 990, PART VI, SECTION B, LINE 12C | DIRECTORS ARE ASKED TO ABSTAIN FROM VOTING ON ANY MATTERS THAT MAY CAUSE A CONFLICT OF INTEREST |
| FORM 990, PART VI, SECTION C, LINE 19 | THE CORPORATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST |
| FORM 990, PART XII, LINE 2C: | THE BUDGET AND FINANCE COMMITTEE IS RESPONSIBLE FOR THE OVERVIEW OF THE EXTERNAL AUDIT. THIS PROCESS HAS NOT BEEN CHANGED FROM THE PRIOR YEAR |
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